
Strategic Regulatory Specialist
3 days ago
The Compliance Officer plays a pivotal role in ensuring all regulatory submissions are accurately uploaded to the IRDA portal, with close coordination among relevant stakeholders. This involves periodic uploading of new business submissions, schedules submissions, SP submissions, complaints submissions, and financial statements submissions.
Key Responsibilities:- Regulatory Submissions: Ensure timely submission of regulations to the regulator, including new business submissions, schedules submissions, SP submissions, complaints submissions, and financial statements submissions.
- Registers Maintenance: Track, align, ensure, and coordinate with respective business units and teams for regulatory registers maintenance in an appropriate format.
- Communication to Regulators: Notify regulators of branch openings and closings, directorship changes, regulatory charges levied, and other required communications.
- IIB Envoy Portal Update: Periodically upload, track, and review salesperson and SP details.
- IRDAI CA/ISNP/Envoy License Renewal: Procure and renew applicable licenses within stipulated timelines and coordinate with relevant stakeholders.
- NOC Issuance & Detagging Pan in IRDAI Portal: Issue NOC for exited SPs and detag PAN from IRDA and Envoy, maintaining records.
- Telemarketer License: Apply for telemarketing licenses as per guidelines and submit regulatory data to IRDAI.
- Renewal of IRDAI CA Licenses: Track and renew licenses, including PO and relevant stakeholders.
- Regulatory Checklist Maintenance: Track regulatory checklists, including IRDAI data maintenance, registers, timely submissions, grievances, and reconciliations.
- Reconciliations Tracking: Coordinate with finance, product teams, and insurers for monthly reconciliation sign-offs and follow up on gaps identified.
- Agreements Maintenance: Maintain and track agreements, SLAs, and commission structures of insurers.
- Grievance Tracking/Data Maintenance: Track grievances from the grievance team, insurers, and coordinate resolution with insurers, business, product, and branch teams.
- Audit Initiation for Branch & Tracking: Provide audit checklists and coordinate with functional audit teams for tracking audit resolutions for branches.
- Compliance Check on AML: Provide compliance checklists to MFL's compliance team and coordinate AML cases with internal and external stakeholders.
- Legal/Litigation Tracking: Bookkeep litigation of insurance cases, open cases, and update regulators as needed.
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